on 2 September 2022, the Australian Government announced the planning level for the 2022-2023 permanent Migration Program will increase to 195,000 places, with 142,400, 40,500, and 5,000 places allocated to Skilled Visas, Partner Visas and Business Innovation and Investment Visas respectively.
By about mid-January 2023, the actual State and Territory nomination allocations for the Business Innovation and Investment Program (BIIP) is a whopping 810 places only.
With no more State nominations available and the Federal Government has essentially closed the Business Innovation and Investment (subclass 188) visas for the rest of 2022-2023 till 30th June 2023,
1. Will this mean that if you are a business owner or investor who qualify for the BIIP, you must wait till after 30th June 2023 to apply?
2. What can you do now till then?
3. Will that mean that it will be very competitive for you to apply for the BIIP now? And what I need to do in order to stay on top of the list?
If you are a business owner and/or have business and personal assets of at least AUD 1.25 million, and would like to seek more information, Reach out to us and we can advise you accordingly.